West
Blackstone Group to Renovate Houses for Rent
Blackstone Group LP, a private-equity firm that specializes in commercial real estate, has recently started investing in the residential market by taking advantage of a 34 percent drop in single-family home prices.
San Diego Investor Acquires Two Value-Add Apartment Properties
Pathfinder Partners LLC, a San Diego-based firm specializing in opportunistic investments in distressed real estate and defaulted loans, has closed on two multifamily deals in the western United States. One property is in Denver, while the other is in Long Beach, Calif.
TODAY’S DEALS: Transwestern Arranges Sale of Phoenix Property for $20.8M
Transwestern arranges the sale of a Phoenix property for $20.8 million; and Cohen Financial advises on a $12.45M, 80-percent LTV mortgage.
Western U.S. Multifamily Projects Win Gold Nugget Awards
The winners of the 2012 Gold Nugget Awards for design and planning competition were announced recently at the Gold Nugget Awards Luncheon at the Moscone Convention Center in San Francisco, and the winners included a number of multifamily housing designs.
Kennedy Wilson Buys SoCal Multifamily Property for $43.7M
Kennedy Wilson, along with unnamed partners, has acquired Torrey Pines, a 251-unit multifamily property in West Covina, for $43.7 million.
Walker & Dunlop Closes Loan for California Apartment Community
Walker & Dunlop recently closed a $74.4 million Fannie Mae supplemental loan for Bella Vista Apartments, a Class A apartment community in Santa Clara, Calif.
Kennedy Wilson Acquires 544-Unit Multifamily Community
Kennedy Wilson, an international real estate investment firm, recently acquired a 544-unit multifamily community in Hayward, Calif. The property, called the Waterford, was purchased for $86.5 million, with $68.1 million in financing from Freddie Mac.
Ground Broken for New Affordable Housing Development in Santa Clara
The ROEM Corporation, along with Pacific Housing Inc. and the City of Santa Clara, recently broke ground on a $15 million project—a new affordable housing community in Santa Clara, Calif.
California Apartments Being Renovated to Attract Students
Work is under way on the renovation of the Grove, an 80-unit apartment property in Davis.
San Jose’s Cypress Gardens Re-opens Thanks to HACSC
The Housing Authority of the County of Santa Clara has rehabilitated and upgraded the 125-unit senior citizen housing community, Cypress Gardens, in San Jose, Calif., thanks to a creative partnering of public and private parties.